XRP showing signs of a return to postive 200 period Simple Moving Average.
This leads us to believe that we will see a new positive trend, not a 'bull run', but a steady move back toward the $0.50 range, for the first time in several months.
We agree that this may not be a price ceiling but a considerable area to take profits from a long trade.
#XLM #NEO #ADA...
A long squeeze on intra day trading patterns as price is held back by a counter trend line in the current trading range. A movement above this will give way to the outer counter trend line, whereby a break would lead to a push for market structure and the 1.618 fibonacci extension. Strong supporting trendline with 4 previous confirmed bounces.
Unfortunately, because of lacking experience of XRP investors panic selling cause a 50>% drop in XRP over the past week.
Now that this correction has ended, exchanges are buying large amounts of XRP in order to full profits and potentially adding XRP to their roster.
I expect that in the next 1-2 weeks significant volume will flood XRP again and carry it...
Price has rallied to the daily 200EMA, with indication of some rejection here I begin to bias short. Also, we have a daily 0.618% fibonacci retrace-ment which also enters a prior weekly support become resistance area. As well as this, DXY is lacking some direction as such at the moment. Therefore some strong US data today with the medium impact news would certain...
Oil is trading nicely between 2 of my weekly levels:
1) Formed a nice descending channel giving multiple selling opportunities
2) No reason to long this security at the moment
3) Macro Economics including the frustration between Saudi Arabia and Iran is bearish news
4) Possible 29-26 bottom in the next 6-12 Months
5) Overall target is -0.5 or 1.5 Fibonacci...
Oil/Crude/WTI has seen tremendous downfall over the last 6 months. This is now the time to consider long term bullish positions as a reaction to OPEC decision not to cut production. This is the final institutional(OPEC) flush out of early buy and hold traders and also the competing nations such as the US. Time will tell and movement will be swift.